Vivak Vaish

Senior Associate

About

Vivak Vaish practices in predominately non-contentious restructuring, advising stakeholders on all stages and aspects of distressed situations, including capital and corporate restructurings, non-contentious formal insolvencies, contingency planning and distressed investments, as well as distressed finance.

Clients include banks, asset based lenders, insolvency practitioners, directors, shareholders, creditors, private equity firms and distressed debt and investment funds, plus other stakeholders in relation to distressed situations.

Areas of FocusRestructuring Consumer Goods, Food and Retail Technology

Professional QualificationsSolicitor of the Senior Courts of England and Wales

EXPERIENCE

The asset based lender in relation to the restructuring and refinancing of one of the UK’s largest recruitment companies with an annual turnover of GBP1.2bn with operations across several jurisdictions, which saw over 45,000 jobs protected. Project completion March 2020.
A group of companies that provided personal insolvency solutions including IVAs, Debt Management Plans (DMPs) and administered PPI and packaged bank account claims. Vivak’s role involved advising the board and various stakeholders on the contingency planning, and subsequently acting and advising the Administrators in respect of the pre-pack sale of three separately regulated businesses for circa GBP28m. Project completion April 2018.
The Administrators on the pre-packaged sale of the shares in a national boiler service and repair insurer (FCA regulated) to a FTSE 250 company. Project Completion August 2017.
Gordon Brothers (US) on the acquisition of the worldwide intellectual property and license/franchise portfolio of the Laura Ashley brand from its Administrators. Project completion April 2020.
A private family office on the disposal of various fashion brands including a global denim brand registered in over 30 different jurisdictions together with all its associated intellectual property. Project completion August 2018.
Gordon Brothers (US) on its acquisition out of administration of the global fashion brand "Bench" together with all of its related intellectual property. Project completion July 2018.
The special situations lender on its reorganisation and restructuring of its distressed investment for circa GBP10m in a group of mechanical, electrical and telecommunication engineering services business. As part of the restructuring a pre-pack administration was utilised to undertake a debt restructuring. Project completion November 2018.
KSR Electronics Systems: Acting for the company and then the administrators (of Ernst & Young LLP) of KSR Electronics Systems Limited. Trading and funding arrangements, with two European-based tier one automotive suppliers, were agreed to ensure continued provision of goods and services within the “just in time” supply chain model. The agreements reached ensured that all costs in the administration, as well as guaranteed monthly trading profit figures, were paid in advance to ensure an improved position for all creditors of the business. Project completion July 2020
Synseal Extrusions – acting for the administrators (of KPMG LLP) of a leading UK manufacturer of windows, conservatories, doors and glass systems with a reported turnover of GBP117m. The group employed over a thousand employees and operated over several sites in England. We advised the administrators on the pre-packaged sale of the majority of the business and assets for GBP35m (via credit bids) by the incumbent finance parties. Project completion March 2019.
A special situations fund on its distressed investment in the out of home advertiser “Inlink Limited” and then subsequently acting for the appointed administrators on the disposal of the business and assets of the company to one of the joint venture partners together with a future revenue sharing arrangement. Project completion December 2019.

Education

College of Law, Manchester, Legal Practice Course

Lancaster University, LLB, Hons Law Degree